Monday, April 14, 2014

Big things...big decisions / EXTRA! EXTRA! READ ALL ABOUT IT??

Big things...big decisions

I’m not sure if there’s something in the air right now but a number of people have reached out to me, to talk about big things going on in their lives … big decisions.  And this is not limited to one particular generation.  Perhaps there is a lot of soul-searching going on … stimulated by the loss of a job and/or complete unhappiness with a manager or company.  Having experienced myself what it’s like to wake up every morning and dread going into work – I know it’s not fun. We all want to be able to address situations from a place of strength – but sometimes responsibility or fear overwhelms us and we end up compromising.

Who we choose to turn to when we’re under stress or dealing with a complicated situation are those we trust, those people in our lives that really care about us.   But, even the best-intentioned friends don’t necessarily have the right answer – after all, they’re human just like us and don’t have a crystal ball. At the end of the day we need to take responsibility and make our own decisions.

What it comes down to is realizing that we have to trust ourselves – to dig down deep inside and find that place where the solution presents itself.  When dealing with monumental decisions, it pays to make sure you have all the information you need to consider the possibilities. We may use thought, analysis, visualization and/or weighing the pros and cons; in other words, we do the best we can. And there’s also the ‘life is short’ philosophy that appears sometimes just begging for consideration.

Ultimately, the time comes when the decision has to be made.  We all know that not making a decision is a decision in its own right.  With a real estate deal, if it doesn’t pan out the way you thought it would, there will be other opportunities.  When investing in your life and your future you may not get a second chance. 

I like to think of life as a series of adventures, one day at a time. Every day we are presented with opportunities of one sort or another. The stories of our lives are the result of the individual choices we make as each day unfolds. 

When at a crossroad in our lives, we often need to consider the risk of not doing something – the regret factor - in addition to moving forward with the choice. It’s possible we’ll only really know if we made the ‘right’ choice in a week, a month, a year, a decade or even a lifetime from now… when we have the perspective to look back. Sometimes we don’t recognize the BIG decisions as significant turning points in our lives until well after the fact.

It would certainly be interesting if the universe was able to give you a ‘heads up’ every time you were at one of those times in your life.  Or maybe we just need to be more aware of what the signs might look like …..hmmmm.


EXTRA! EXTRA! Read ALL about it??

When I worked on The Bulletin, the school newspaper at Fairleigh Dickinson University in New Jersey, the team was fortunate to have a true professional journalist as our advisor.  Marty Gansberg worked for the New York Times and he taught us the Times approach to journalism.  It was classic journalistic techniques at its finest, and we all benefited.  A few of my ‘paper-mates’ went on to use what they learned working as student journalists in their future media, public relations and advertising positions. One enduring lesson we all took from the late Marty was the importance of responsible reporting.

I find it simply incredible how much unreliable information is published these days – just in the commercial real estate industry alone.  As a fairly well-connected real estate industry professional, I sometimes - on a confidential basis - learn about breaking news before it breaks.  It’s a special feeling to be trusted with that kind of information.  However, when some of the media publishes that very ‘same’ news story, all too often it’s either missing information or is reported inaccurately.  And, while there is an entire service industry built on ‘crisis management,’ wouldn’t it be nice if ‘reporters’ actually confirmed their information before publishing??

Don’t get me wrong; there are some fine journalists and publications in our industry that care about reporting news correctly.  But, in other ways, even with the ease of posting on the Internet, it seems like little has changed since the paperboys of years gone by - standing on the street corner, holding up a hot-off-the-presses newspaper yelling, ‘EXTRA! EXTRA! READ ALL ABOUT IT!!”  Headlines sell papers – and advertising.  But irresponsible journalism doesn’t make a publication look good.  And it forces the subject of the erroneous information to spend time and money informing clients, investors and others that the ‘news’ was reported incorrectly. 

Careers and lives have been dented and sometimes smashed by gossip and indiscriminate information.  Getting it right may take a little more time and effort but I sure hope that those who publish will one day consider what it would feel like - if the tables were turned - and they became the victim of reckless information or unsubstantiated rumors.  Signing off for now. 

Happy Holidays...

My sincere best wishes to those who are celebrating Passover and Easter this week.

Congratulations...

Scott Arden on becoming a principal at Hodes Weill & Associates.

Alessandro Bronda who joined Zurich Insurance as Head of Global Real Estate Investment Strategy.

Larissa Belova now Director of Business Development at Candlebrook Properties.

Emmanuel Blouin named non-Executive Chairman at IO Adria.


On The Road...

May 2 - 6:   Family visit, Asheville, NC

May 16:  Annual meeting of The Hoyt Fellows, North Palm Beach, FL

June 10 - 11:  Client meetings, Chicago, IL

June 12 - 13:  IMN's 15th Annual US Real Estate Opportunity and Private Fund Investing Forum, New York, NY  (I will be moderating a panel called, 'A Day in the Life of an LP').

June 16 - 19:  Annual Conference of The National Association of Real Estate Companies, Charleston, SC




Disclaimer 
All content in this blog is created for informational purposes only. Content, which includes all text, photos, video and graphics is not intended to malign any religion, ethnic group, club, organization, company or individual.  Steve Felix makes no representations as to the accuracy or completeness of any information on this site or other information as a result of following any featured link to or from this site.  The intention of this blog is to do no harm in regards to injury, defamation or libel. What is written or shown is not to be taken as fact or absolute.  Steve Felix will hold himself harmless for any errors or omissions in this blog’s information; including but not limited to external link information, translation or interpretation of content or incorrect grammar or punctuation. 



Sunday, March 23, 2014

Pension Real Estate Association Conference - Boston

Pension Real Estate Association Conference - Boston

As I expected, this week’s PREA conference in Boston was great - and that’s not just my opinion.  Many attendees told me it was one of the most productive two days of the year with so many people to talk with in the same location, location, location! It’s been quite some time since I’ve experienced such optimism at an industry event. Commercial real estate is hot! And, as tends to happen in good times, I heard about many job opportunities – head of research, investor relations / marketing specialist and head of asset management, just to name a few.

One subject that surfaced in numerous conversations is the waning appetite for commingled funds and the increasing interest in joint ventures, co-investments and club deals. This got me thinking about how the institutional real estate world has evolved over the course of my career.
   
When I first started in commercial real estate, insurance companies and banks were strictly lenders.  Shortly thereafter, they started buying individual assets directly - all by themselves.  Unfortunately, when a downturn hit, valuable lessons were learned. Direct ownership of commercial real estate was not for the faint of heart.  

Enter the REIT.  These Real Estate Investment Trusts provided liquidity.  Popularity of the commingled fund then began growing and, to this day, offers an excellent opportunity for institutional investors, of all sizes, to invest in real estate – without the responsibility of direct ownership.

Institutional investors can learn about both traditional and more creative investment strategies at semi-annual PREA conferences.  The networking breaks offer opportunities to begin building relationships that may ultimately lead to an investor making a commitment.  Several people told me they embraced the networking concept from last week’s column – approaching and chatting with someone they didn’t know. Following my own advice, I had a conversation with one person in particular, whom I had never met before.  This turned into a very lively discussion on presentation and communication challenges – which may prove to be the first step in a mutually beneficial relationship.  

PREA’s next major event is September 30 – October 2. If you are looking to immerse yourself in the workings of the institutional real estate world (and rub elbows with many industry influencers) I highly recommend attending. I hope to see you there!

My congratulations go to the three event co-chairs who put together an excellent program: Pat Halter of Principal Global Investors, Allison Yager of Mercer and Gabe Finke of Amstar.

On The Road...

Mar. 24 - 26:  Client Meetings, London, UK

Apr. 2 - 3:  Client Meetings,  Chicago, IL

Apr. 29 - 30:  PERE (Private Equity Real Estate) Global Investor Summit, Los Angeles, CA

May 2 - 6:  Family visit, Asheville, NC

May 15:  Annual meeting of The Hoyt Fellows, North Palm Beach, FL




Disclaimer 
All content in this blog is created for informational purposes only. Content, which includes all text, photos, video and graphics is not intended to malign any religion, ethnic group, club, organization, company or individual.  Steve Felix makes no representations as to the accuracy or completeness of any information on this site or other information as a result of following any featured link to or from this site.  The intention of this blog is to do no harm in regards to injury, defamation or libel. What is written or shown is not to be taken as fact or absolute.  Steve Felix will hold himself harmless for any errors or omissions in this blog’s information; including but not limited to external link information, translation or interpretation of content or incorrect grammar or punctuation. 





Tuesday, March 18, 2014

Looking forward to PREA!

I learned about PREA (Pension Real Estate Association) in a trade magazine in 1995 and immediately signed up to attend their next event.  At that time I was head of new business development for a shopping center owner who wanted to develop an institutional third-party management business. I thought the Boston conference would be a perfect opportunity to network.

This conference proved to be a vital professional-growth experience for me. I gained insight into the pension fund real estate world and discovered the path to follow to reach the right people. 

My own networking skills were put to the test at that first meeting, as I didn’t know a soul! Now, when I see someone standing by him or herself at an industry event I remember those early days and will often introduce myself and have a brief chat.  In some cases, I’ll introduce them to other people I know.  In hindsight, more than once, this type of random encounter has developed into an industry friendship (and in some cases, actual new business!).

If you’re an industry veteran, think back to your first event and remember what it was like to be there.  When attending events now, consider greeting someone who is standing alone, looking around, and trying to figure things out.  Like me, that might have been you in the past… Your actions may be helping to develop the next round of future leaders… you never know.

This week, I’ll be attending my umpteenth PREA event and it’ll be like going home.  In the 10 years that I worked for Institutional Real Estate, Inc., and the five since I left that firm, I’ve had the privilege to meet and get to know so many of the industry professionals who attend PREA events - I’m sure this PREA Spring Conference will be another ‘must attend’ gathering AND will be really fun.  It will definitely be a large crowd thanks to PREA President Gail Haynes and her team.  

If we haven’t yet met - and you’ll be in Boston this week - feel free to reach out and text me at 917.603.5578 so we can make time to say hello. 


Congratulations...

George Ahl joined Forum Partners as Managing Director, Capital Markets
Julie Brenton now Head of Investor Relations at Dune Real Estate Partners 

On The Road...

Mar. 19 - 20:  PREA (Pension Real Estate Association) Spring Conference, Boston, MA

Apr. 2 - 3:  Client Meetings, Branding Workshops, Chicago, IL

Apr. 29 - 30:  PERE (Private Equity Real Estate) Global Investor Summit, Los Angeles, CA

May 2 - 6:  Visit with family, Asheville, NC

May 15:  Annual meeting of The Hoyt Fellows, North Palm Beach, FL


Disclaimer 
All content in this blog is created for informational purposes only. Content, which includes all text, photos, video and graphics is not intended to malign any religion, ethnic group, club, organization, company or individual.  Steve Felix makes no representations as to the accuracy or completeness of any information on this site or other information as a result of following any featured link to or from this site.  The intention of this blog is to do no harm in regards to injury, defamation or libel. What is written or shown is not to be taken as fact or absolute.  Steve Felix will hold himself harmless for any errors or omissions in this blog’s information; including but not limited to external link information, translation or interpretation of content or incorrect grammar or punctuation. 



Saturday, March 1, 2014

Sonny Liston - Cassius Clay - Barney Felix

Liston - Clay - Felix

As tends to happen from time to time, an event that occurred long ago suddenly resurfaces.  This past week, on its 50th anniversary, the famous boxing match between World Heavyweight Champion Sonny Liston and challenger Cassius Clay was all over the media.  Why?  Well, it certainly wasn’t because of a celebration.  Under the Freedom of Information Act, reports suddenly surfaced speculating that the fight was actually rigged…by the mob. 

The articles I read online were chock full of supposed mafia involvement; it appears that many journalists dream of becoming screenwriters! But I had a personal interest in this story.  You see my uncle - Barney Felix - was the referee for that February 25, 1964 match!  Yes, in all those classic photos of Liston and Clay (Clay, as many of you know, is Muhammad Ali), the ‘third man in the ring’ - as the referee is known - was Uncle Barney.  

Barney was the senior referee in New York State at that time and was tapped to officiate the bout in Miami Beach.  Once back in NJ, he told us all about his first-hand experience – including how Clay wanted to quit in the 5th round claiming he was blinded by a substance on Liston’s gloves.  Barney thought Clay was just plain scared.  But Clay escaped that round by dancing around the ring and when Liston didn’t answer the bell for the sixth round, Barney raised Clay’s hand up and Clay was declared the new World’s Heavyweight Champion.

Fast forward to the rematch on May 25, 1965… The referee for a world championship match was not chosen until just before the fight to avoid giving any 'unscrupulous' characters a chance to bribe the ref.  As the date of the fight approached, Barney didn’t know if he would be assigned the fight but he needed to be at the fight location in Lewiston, Maine, in case he was chosen.  I asked my uncle if he would take me to that match. “I’d like to bring you, but I don’t think it would be safe” he said, “There is a rumor that the mob has put a ‘hit’ out on Ali.”  I didn’t go. 

Barney didn’t get elected to referee. And Barney’s information wasn’t quite correct; the rumors about a possible ‘assassination’ of Ali did not emanate from the Mafia, but from The Nation of Islam, which Ali had joined immediately after becoming heavyweight champion. From Wikipedia: “Malcolm X had been assassinated several months before the bout, almost certainly by the Nation of Islam, and rumors circulated that Ali might be killed by Malcolm's supporters in retaliation (Ali had publicly snubbed Malcolm after Malcolm's break with Elijah Muhammad).”  
**

On December 7, 1970, my fellow college-newspaper buddy, Charlie Oliver, and I took our Dads to Madison Square Garden to see Clay fight Oscar Bonavena.  It was Clay’s first fight in four years after being stripped of the title and his boxing license suspended because he was a conscientious objector refusing to serve in the US Army during the Vietnam War.  At the Garden, our seats were in the nosebleed zone, way up top.  With binoculars we were able to see all the action!  Ali was rusty and not at his best but put on a great show.  And I got to see “The Greatest”, live and in person.  

Uncle Barney later opened his own gym and boxing academy in the ‘basement’ of the Garden State Plaza shopping center in Paramus, NJ.  Funny, at that time, in the 1970’s, they couldn’t give the space away in that center.  Now, it’s one of the most successful shopping malls on the east coast.
Just another story from the Felix Family archives…

Congratulations…

NAREIM (National Association of Real Estate Investment Managers) on the launch of their very cool iPad APP.  Read the NAREIM Journal, Dialogues and Viewpoints; check out their events which include council meetings on Human Resources, Architecture and Engineering, Accounting and IT, Legal and Compliance and Capital Raising/Investor Relations.  

On The Road...

Mar. 4 - 10:  Client Meetings, Behavioral Presentation Coaching Workshops, London

Mar. 19 - 20:  PREA (Pension Real Estate Association) Spring Conference, Boston, MA

Apr. 7 - 9:  Client Meetings, Branding Workshops, Chicago, IL

Apr. 29 - 30:  PERE (Private Equity Real Estate) Global Investor, Los Angeles, CA

May 2 - 6:  Visit with family, Asheville, NC

May 15:  Annual meeting of The Hoyt Fellows, North Palm Beach, FL

June 17 - 20:  Behavioral Presentation Coaching session, Annual Financial and Tax Conference, National Association of Real Estate Companies, Charleston, SC




Disclaimer 


All content in this blog is created for informational purposes only. Content, which includes all text, photos, video and graphics is not intended to malign any religion, ethnic group, club, organization, company or individual.  Steve Felix makes no representations as to the accuracy or completeness of any information on this site or other information as a result of following any featured link to or from this site.  The intention of this blog is to do no harm in regards to injury, defamation or libel. What is written or shown is not to be taken as fact or absolute.  Steve Felix will hold himself harmless for any errors or omissions in this blog’s information; including but not limited to external link information, translation or interpretation of content or incorrect grammar or punctuation. 



Sunday, February 23, 2014

And the Oscar goes to...


And the Oscar goes to...

I’m on a mission this year.  For the first time, I’m attempting to see all the movies nominated for ‘Best Picture’ before the Academy Awards take place.  Other than Captain Phillips, which is on this week’s agenda, I have seen them all.  

Many of the films involve some type of journey - on an actual road, in the stratosphere, or through life:  an old man starts walking from Montana to Nebraska; a woman travels to find her son taken at an early age; an incredible journey through space; a woman’s relocation to attempt to rebuild a shattered life; a free man abducted, transported and sold into slavery in the deep south; travel to Mexico to bring medicine to the US to fight AIDS; and over indulgent travel as part of big-time fraud. 

As I was thinking about how movies transport us, I contemplated my own travels – not the recurring theme of business travel but where I called home, and the journey I’ve been on.  

I lived in White Meadow Lake, NJ, at the start of my commercial real estate career; Parsippany, NJ, where my sons Brian and Kevin were born; Millburn and Short Hills, NJ where the boys went from kindergarten through high school graduation; time spent in Sea Bright, Springfield, and North Plainfield, NJ; and then the big move to California, where I spent 14 years, on and off, living in Napa but traveling extensively.  

My time on the west coast was interrupted by a 15-month stay on the Upper West Side of Manhattan and one-year in Laval, a suburb of Montreal.  After returning and then leaving Napa for the final time, I lived in Long Beach, NY, until ‘Sandy’ arrived and am now back in Manhattan living near Columbus Circle and Central Park.

The drama in my life pales in comparison to that of the characters in this year’s top films. While there have been bumps along the way, the road I am now traveling is a beautiful highway with a wonderful vista, far as the eye can see. 

Movies end, but life goes on.  I have been fortunate enough - like many of the movie characters - to reinvent myself and find happiness. This provides the fuel to continue my journey.  Thank you for being part of it.  

Steve


Congratulations…

PEI Media on its acquisition of Real Estate Capital publications

Privcap on the launch of their real estate channel, PrivcapRE

Ko Wang and Su Chen accepting positions at the Carey Business School, Johns Hopkins University

On The Road...

Mar. 4 - 10:  London

Mar. 19 - 20:  PREA Spring Conference, Boston, MA

Apr. 7 - 9:  Chicago, IL

Apr. 29 - 30:  PERE Global Investor, Los Angeles, CA

May 2 - 6:  Asheville, NC

May 15:  Annual meeting of The Hoyt Fellows, North Palm Beach, FL





Disclaimer 
All content in this blog is created for informational purposes only. Content, which includes all text, photos, video and graphics is not intended to malign any religion, ethnic group, club, organization, company or individual.  Steve Felix makes no representations as to the accuracy or completeness of any information on this site or other information as a result of following any featured link to or from this site.  The intention of this blog is to do no harm in regards to injury, defamation or libel. What is written or shown is not to be taken as fact or absolute.  Steve Felix will hold himself harmless for any errors or omissions in this blog’s information; including but not limited to external link information, translation or interpretation of content or incorrect grammar or punctuation. 


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